The global ‘medical swabs market Size’ is estimated to rise remarkably on account of the increasing application of cotton for drawing infection samples from the patient by having the least possibility of contact. According to a recently published report by Fortune Business Insights titled, “Medical Swabs Market Size, Share &COVID-19 Impact Analysis, By Type (Cotton Tipped Swab, Foam Tipped Swab, Non-woven, and Others), By Application (Specimen Collection, Disinfection, and Others), By End User (Hospitals & Clinics, Laboratories & Diagnostic Centers, and Research Institutes), and Regional Forecast, 2020-2027,” the value of this market was USD 2.34 billion in 2019 and is expected to reach USD 4.00 billion by the end of 2027. The market is expected to rise at a CAGR of 6.9% between 2020 and 2027.
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Frequently Ask Question :
1) How much is the medical swabs market worth?
Fortune Business Insights says that the global medical swabs market size was USD 2.34 billion in 2019 and is projected to reach USD 4.00 billion by 2027.
2) What was the value of the market in North America in 2019?
In 2019, the North America market vale stood at USD 0.97 billion.
3) At what CAGR is the market projected to grow in the forecast period (2020-2027)?
Growing at a CAGR of 6.9%, the market will exhibit a steady growth in the forecast period (2020-2027).
The Report Answers the Following Questions:
- What is the nature of this market and who are the key players?
- Which segment will lead this market and why?
- What is the impact of COVID-19 pandemic on this market?
- Which are the major industry developments of this market?
Drivers & Restraints-
The increasing prevalence of COVID-19 Pandemic to Aid in Expansion of Market
Swabs have been used by the medical sector for collecting samples for research activity or for diagnosing any disease. With the use of swab, there is minimum risk of infection contraction between a patient and the sample collector. This hygiene-friendly feature stands as a key factor promoting the medical swabs market growth. Besides this, the increasing prevalence of coronavirus pandemic is further propelling the overall growth of the market. Additionally, the rise in cases of other infectious and communicable diseases will add impetus to the market in the forecast period.
On the contrary, the supply shortage of sterile swabs used in testing processes during the current coronavirus pandemic may cause major hindrance to the market in the coming years. Nevertheless, the increasing number of diseases resulting in hospital stay is further propelling the demand for medical swabs, thereby creating lucrative growth opportunities for the market in the coming years.
North America Dominated Market with Increasing Demand for Continuous Diagnostic Procedures
Region-wise, the global medical swabs market is classified into Latin America, Asia Pacific, North America, and Europe. These regions are further categorized on the basis of nations. Among these, North America generated a revenue of USD 0.97 billion in the year 2019 and emerged dominant. This is accountable to the growing prevalence of infectious diseases that demand continuous diagnostic processes. On the other side, the increasing awareness about the need to get diagnosed for infectious diseases is likely to help Europe market rise at a notable CAGR in the forecast period. Furthermore, the Asia Pacific market is likely to showcase a healthy CAGR with the increasing number of coronavirus testing facilities.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
For more information visit : https://www.fortunebusinessinsights.com/medical-swabs-market-103318
Table Of Content :
- Market Scope
- Market Segmentation
- Market Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview: Guidelines for COVID-19 Diagnosis Using Swab
- New Product Launch
- Prevalence of COVID-19 Disease
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
Puritan Medical Products will Lead Market with Robust Portfolio
The competitive landscape of the global market for medical swabs is highly fragmented in nature witnessing the presence of both small and large scale industries. The market is dominated by Puritan Medical Products on account of its robust portfolio inclusive of products as polyester swabs, non-woven swabs, cotton tipped swab, and others. Other companies operating in this market are focusing on adopting strategies that will help them expand their geographical presence to other regions.
Notable Industry Developments of the Marketfor Medical Swabs Include:
April 2020 – Origin and Stratasys entered into a joint venture for the promotion and distribution of 3D printed nasopharyngeal swabs produced by Origin.
April 2020 – The launch of Q-tip, a polyester swab manufactured by Cleveland Company, was approved by the U.S. Food and Drug Administration with the objective of maximizing the production capacity for continuous supply during the coronavirus pandemic.
Some of the Key Players of thisMarket include:
- FL MEDICAL srl (Italy, Europe)
- Advacare Pharma (Maharashtra, India)
- Puritan Medical Products (Maine, U.S)
- Dynarex (New York, U.S)
- BD (New Jersey, U.S)
- DLS Medical (U.K, Europe)
- 3M (Minnesota, U.S)
- FL MEDICAL srl (Italy, Europe)
- Copan Diagnostics Inc. (Italy, Europe)
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Global Medical Swabs Market Segmentation :
- Cotton Tipped Swabs
- Foam Tipped Swabs
- Non-woven Swabs
- Specimen Collection
By End User
- Hospital & Clinics
- Laboratories & Diagnostics Centers
- Research Institutes
- North America
- By Type
- By Application
- By End User
- By Country
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